Vy Capital joins $3B round for The Boring Company
Business
Vy Capital, a Dubai-based investment firm, has joined a $3 billion funding round for The Boring Company, Elon Musk's tunnel-building startup.
The round also brought in money from other U.A.E.-connected groups like Shamal Holding, which is tied to Dubai's Crown Prince.
This move makes Vy Capital an even bigger part of Musk's circle of backers.
Vy Capital holds $40B SpaceX stake
Founded in 2013 by Goldman Sachs Group Inc. alums Alexander Tamas and Mateusz Szeszkowski, Vy Capital is no stranger to big tech bets: it's the fifth-largest shareholder in SpaceX (with a $40 billion stake) and has backed Neuralink too.
Even with all this influence and strong ties to U.A.E. leadership, the firm keeps things low-key and doesn't share much about its inner workings or investors.